Because of the severe consequence of debt monetization, Roubini and Mihm believe it is unlikely to happen, but they also think it is important to remain cognizant of the risk, given the polarization of the U.

OTSU, Japan - Bank of Japan Policy Board member Tadao Noda on Thursday said the central bank needed to be ''careful'' about increasing its buying of government bonds as there is a ''risk'' that the BOJ's purchase may be mistaken for debt monetization and lead to an unreasonable increase in long-term interest rates.

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